NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Kenneth J. Reefer Claimant(s) vs. 89-01948 Ron Smith and First Hontauk Securities Corp. Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Kenneth J. Keefer alleged that Respondent(s) Ron Smith and First Montauk Securities Corp. failed to execute orders made by Claimant. Respondent(s) deny Claimant's allegations. RELIEF REQUEST

N.A.S.D. AWARD NKTICNRL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Sara L. Satin & Ruthann B Satin 89-01947 Name of Merrill Lynch, Pierce Fanner & Smith Inc Richard T. Descano For Claimant: David M. Greenberg, Esq. For Respondent: Cameron Stout, Esq. Statement of Claim filed: July 10, 1989 Claimant's Submission Agreement signed on: June 16, 1989 Statement of Answer filed by Respondents on: September 8, 198

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Irmgard Seebauer Claimant(s) vs. 89-01946 Graystone Nash, Inc., Tom Ackerly and Dennis Williams Respondent(s) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Irmgard Seebauer alleged that Respondent(s) Graystone Nash, Inc., Tom Acker ly and Dennis Williams made misrepresentations and alleges insider trading. Respondent(s) deny any allegations

NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Yun Cheng Wu Claimant(a) vs. 89-01944 Lin-Wen Ten Respondent(B) NOTICE OF ARBITRATION AWARD CASE SUMMARY Claimant(s) Yun Cheng Wu alleged that Respondent(s) Lin-Wen Ten was supposed to cancel a transaction and Claimant was only supposed to be liable for a $45.00 penalty fee. The sale went through and now the clearing agent is trying to collect

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between MADELINE OATES vs. POWER SECURITIES CORP., GREG LEIBENGUTH and MICHAEL RIORDEN. Claimant, Respondents. Heard before the members of the Arbitration Panel: Roger C. Benson James F. Turner III Arthur De Stefano Case 139-01939 Award CASE SUMMARY This claim was filed with the NASD, Inc. on July 7, 1989. The hearing was conducted in Tampa,

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between Regina and Peter Longo Claimant vs. Case 189-01937 AWARD Anthony Ferrone and Thomson McKinnon Securities, Inc. Respondents CASE SUMMARY Claimants Regina and Peter Longo alleged that Respondent Anthony Ferrone made misrepresentations and unsuitable investment recommendations to them. Specifically, the Claimants alleged that the recommendation of

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between) ) EUGENE R. SALAMON ) ) Claimant ) and ) )CASE NO. 89-01936 LEONARD J. MESSINA and FIRST AMERIGROUP ) SECURITIES, INC. ) ) Respondents ) CASE SUMMARY Eugene R. Salamon ("Claimant") alleged that: 1. Leonard J. Messina and First Ame"rigoup Securities, Inc. ("Respondents") misrepresented and failed to disclose all of the matrial fa

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between/Among Christe Arvanitis and Maria Arvanitis Claimants vs. J.S.C. Securities, Inc. formerly Josephthal and Company, Inc. Respondent Case #89-01932 AWARD CASE SUMMARY This claim was filed on July 6, 1989. Claimants, Christie and Maria Arvanitis, allege that Respondent, J.S.C. * Securities, Inc., formerly Josephthal and Company, Inc., fraudulently

Case *89-01713 N.A.S.D. JNND NATIONAL ASSOCIATION OF SECURITIES DEALERS In the Matter of the Arbitration Between Name qfi Claimant fa] Margurette Faye and William V. Dew, Jr. Edna Owens and Power Securities Corporation Heard before the members of the Arbitration Panel i John P. Cullem, Esq. H. Steven Holtzman, Esq. Mr. Eugene B. Harper CASE SMART TMs claim was filed with the National Association of Securities, Inc. (NASD) on June

NATIONAL ASSOCIATION OF SECURITIES DEALERS, INC. In the Matter of the Arbitration Between ) Sara M. Knowles Claimant ) vs. ) AWARD Black & Co., Inc. and Respondents ) CASE NO. 89-01710 George W. Scherzer ) SUMMARY OP ISSUES This case was filed with the National Association of Securities Dealers, Inc. ("NASD") on June 12, 1989. Claimant alleged the following: misrepresentation, excessive trading, and unauthorized trading in the management of her